The figure was obtained as a result of estimates obtained at the end of 2016 and BP said in its report – named “Statistical Review of World Energy 2017” – that Iran’s reserves had remained unchanged from last year.

BP further put the reserves of Russia – Iran’s closest rival in terms of gas reserves – at 32.3 tcm.

The world’s third largest reserves at 24.3 tcm belong to Qatar with which Iran’s shares its huge South Pars gas field.

Iran’s gas reserves account for 18 percent of world’s total. The reserves of Russia and Qatar account for 17.3 percent and 13 percent of the global total, respectively.

In terms of production, the United States maintained its market supremacy in 2016 by producing around 750 billion cubic meters (bcm) of gas.

Russia came next with about 580 bcm and was followed by Iran at 202.4 bcm.